secwatch.observer — SEC 8-K summary
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Issuer:     Four Corners Property Trust, Inc. (FCPT)
CIK:        0001650132
Form:       8-K
Filed at:   2026-04-07T23:59:59+00:00
Accession:  0001193125-26-144172
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FCPT closes $200M seven-year delayed draw term loan; $50M drawn at closing
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- Facility: $200M senior unsecured delayed draw term loan; $50M funded on closing, $150M to fund acquisitions in late Q2/early Q3 2026.
- Interest: 1.25% over SOFR (all-in ~4.9%), with 96% of term loans hedged at 3.0% blended rate; 98% of total debt fixed through Nov 2027.
- Maturity: April 6, 2033; prepayment fees apply for first two years, none after year two.
- Financial covenants include total leverage ≤60%, fixed charge coverage ≥1.50x, unencumbered leverage ≤60%.
- Pro forma full draw: run-rate leverage ~5.4x, within 5.0x-6.0x target range; spread to historic acquisition yields ~200+ bps.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1650132/000119312526144172/0001193125-26-144172-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1650132/000119312526144172/fcpt-20260406.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-144172

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